Immix Biopharma (NASDAQ:IMMX) Shares Up 8.5% – Still a Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX) shares traded up 8.5% during mid-day trading on Wednesday . The company traded as high as $9.52 and last traded at $9.5930. 229,839 shares changed hands during trading, a decline of 75% from the average session volume of 915,146 shares. The stock had previously closed at $8.84.

Analyst Ratings Changes

Several analysts have recently commented on IMMX shares. Morgan Stanley started coverage on shares of Immix Biopharma in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price target on the stock. Citizens Jmp restated a “market outperform” rating and set a $23.00 price objective on shares of Immix Biopharma in a research report on Friday, March 27th. Mizuho upped their target price on Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. HC Wainwright increased their target price on Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Wall Street Zen downgraded Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Immix Biopharma Trading Up 1.3%

The company has a market capitalization of $480.98 million, a price-to-earnings ratio of -9.61 and a beta of 0.12. The company’s 50 day simple moving average is $9.33 and its 200-day simple moving average is $7.28.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Sell-side analysts anticipate that Immix Biopharma, Inc. will post -0.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in shares of Immix Biopharma during the fourth quarter worth $30,000. Mathes Company Inc. purchased a new stake in shares of Immix Biopharma in the fourth quarter valued at $56,000. Balyasny Asset Management L.P. acquired a new position in Immix Biopharma in the fourth quarter valued at $67,000. Kera Capital Partners Inc. acquired a new position in Immix Biopharma in the fourth quarter valued at $68,000. Finally, Velan Capital Investment Management LP lifted its position in Immix Biopharma by 40.0% during the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after buying an additional 10,000 shares during the period. 11.26% of the stock is currently owned by institutional investors and hedge funds.

Immix Biopharma Company Profile

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.